“Before that, we have to speed up domestic gas projects. We have a shortage because of demand from power plants and industries.”

Vietnam depends on domestically produced fuel and imported petroleum products to meet demand because it cannot import gas through pipelines or in liquefied form.

Industrial energy demand has risen as the economy expanded 8.5 percent last year, the fastest since 1996.

The group, also known as PetroVietnam, is in talks with Malaysia, Indonesia and countries in the Middle East to import gas, Bui said in an interview Wednesday at Gastech, a gas conference in Bangkok.

Domestic gas comes from fields operated by BP Plc and PetroVietnam, among others.

PetroVietnam plans to produce as much as 38 million tons of oil-equivalent energy annually, of which gas output may be between 6 billion and 17 billion cubic meters, it said in a report, without giving a schedule.

Vietnam’s gas supply comes from three projects, including Bach Ho field in Cuu Long Basin area, Nam Con Son Basin area and the south-west region, Tien said.

PetroVietnam and its partners are preparing a development plan of Emerald Ruby, Ca Ngu Vang and Phuong Dong areas in Cuu Long Basin, the report said.

Source: Bloomberg